Maurice Hinchey: “We want the investment trustees to have as much latitude as possible to act in the context of their lights in the best…”

“We want the investment trustees to have as much latitude as possible to act in the context of their lights in the best interests of the people they represent in their pension system. We want them to do it insofar as it is consistent with all the protections and provisions in the law in a way that is going to promote economic growth and development in this country, because that too is in the best interest of the pensioners, potential pensioners, the investors in that pension system. To the extent that we can grow this economy and marshal our investment in ways that produce growth and create income, we are benefiting everyone in the economy. That is what we are trying to do with this amendment, because it is not clear in the bill that that would be allowed. Contrarily, if I may, the bill indicates that the trustees, if they do that in a way that is socially just, they will be imperiled.”